DeFi
Arweave AO Sees $260M Pre-Filled in 4 Days
AO, a hyper-parallel computer, saw an influx of $260 million of pre-bridged stETH onto its platform, propelling it to become the 28th largest decentralized finance (DeFi) economy in the last four days, Arweave and founder of AO Sam Williams noted in a job on June 22.
According to Williams, AO’s total value locked (TVL) now matches that of Cardano ($209.43 million), surpassing notable blockchain projects such as zkSync, Fantom, Scroll, Algorand, Filecoin and ICP.
Understanding AO and Arweave
AO uses a decentralized computing model to enable parallel processing of applications, including artificial intelligence (AI) applications. It is based on Arweavewhich provides permanent data storage solutions.
Hyper-parallel computing involves using a large number of processors simultaneously to perform many calculations, thereby significantly increasing efficiency and speed. This makes AO particularly suitable for tasks that require significant computing resources, such as large-scale simulations, complex data analysis, and training AI models.
According to research on hyper-parallel computingThis method harnesses the power of distributed processing to solve problems that traditional systems struggle to handle effectively.
Arweave, on the other hand, uses a blockchain-like structure called “blockweave” to store data permanently, ensuring that once the data is written, it cannot be modified or deleted.
This data immutability has significant implications for data integrity and security, making Arweave an attractive option for developers looking for reliable, long-term data storage solutions.
The AO launch show
A key aspect of AO’s introduction to the market was the fair launch of its token. In the context of blockchain and cryptocurrencies, a fair launch means that the project tokens were distributed without any preferential treatment or pre-sales to insiders.
In other words, 100% of the tokens issued are available to the entire community. This approach promotes a more decentralized and equitable distribution of tokens, encouraging broader participation and reducing the risk of market manipulation.
The AO Network launched in February, but the token issuance took place on June 13. For AO, the fair launch involved the issuance of 21 million tokens, with a halving schedule set every four years. This mechanism, similar to Bitcoin’s halving process, reduces the reward for mining new blocks, thereby controlling the speed at which new tokens are released into circulation.
According to a report on cryptocurrency lounge launches, this not only helps control inflation but also introduces a deflationary aspect over time, potentially increasing the value of tokens as their scarcity increases.
The Future of AO and Hyper-Parallel Computing in DeFi
The rapid growth of AO highlights an important trend in the blockchain and DeFi space: the growing demand for high-performance computing solutions amid the conventional computing limitations of blockchains. As more projects and applications require substantial computing resources, the appeal of hyper-parallel computing platforms like AO will continue to grow.
Arweave Market Data
At press time, 00:35 UTC, June 23, 2024, Arweave is ranked 49th in terms of market capitalization and the price is down 2.46% in the last 24 hours. Arweave has a market capitalization of $1.8 billion with a 24-hour trading volume of $51.43 million. Learn more about Arweave ›
Crypto Market Summary
As of press time at 00:35 UTC on June 23, 2024, the total crypto market is valued at $2.34 trillion with a 24 hour volume of $35.03 billion. Bitcoin dominance is currently at 54.06%. Learn more about the cryptocurrency market ›